GBP/USD Technical Analysis: Once again fails near 100-hour SMA, 1.2670-75 supply zone


   •  For the second consecutive session, the pair struggled to build on its intraday positive momentum and started retreating from 100-hour SMA hurdle near the 1.2670-75 region.

   •  Technical indicators on hourly/daily charts have been recovering from the bearish territory but are still far from supporting prospects for any further near-term positive move.

GBP/USD 1-hourly chart

   •  Looking at the daily chart, the pair has been oscillating within a broader trading range over the past 1-1/2 week, suggesting indecision over the near-term trajectory.

   •  Hence, it would be prudent to wait for a decisive break through the mentioned trading band before traders start positioning for the pair's next leg of a directional move.

Daily chart

GBP/USD

Overview:
    Today Last Price: 1.2654
    Today Daily change: 0.0 pips
    Today Daily change %: 0.00%
    Today Daily Open: 1.2654
Trends:
    Previous Daily SMA20: 1.2663
    Previous Daily SMA50: 1.28
    Previous Daily SMA100: 1.29
    Previous Daily SMA200: 1.3199
Levels:
    Previous Daily High: 1.2676
    Previous Daily Low: 1.2616
    Previous Weekly High: 1.2708
    Previous Weekly Low: 1.2574
    Previous Monthly High: 1.3176
    Previous Monthly Low: 1.2723
    Previous Daily Fibonacci 38.2%: 1.2653
    Previous Daily Fibonacci 61.8%: 1.2639
    Previous Daily Pivot Point S1: 1.2622
    Previous Daily Pivot Point S2: 1.2589
    Previous Daily Pivot Point S3: 1.2562
    Previous Daily Pivot Point R1: 1.2681
    Previous Daily Pivot Point R2: 1.2708
    Previous Daily Pivot Point R3: 1.274

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!


Latest Forex News

Editors’ Picks

EUR/USD surges above 1.13 after ECB's stimulus boost

EUR/USD is trading above 1.13, the highest since mid-March. The ECB added €600 billion in fresh stimulus, more than expected. The bank's move joins German stimulus and hopes for a recovery. 

EUR/USD News

GBP/USD avances toward 1.26 amid improving mood

GBP/USD trades closer to 1.26, buoyed by USD dollar weakness stemming from a better market mood. US jobless claims have marginally disappointed yet other US figures are more upbeat. Markets are shrugging off concerns about a no-trade-deal Brexit.

GBP/USD News

Will race relations rock markets? election campaign, coronavirus, crippled economy all in the mix

America is divided by demonstrations against racial discrimination that come on the backdrop of the coronavirus epidemic and attempts for a recovery. Will this or something else eventually affect markets? Valeria Bednarik, Joseph Trevisani, and Yohay Elam have a lively discussion about all these topics.

Read more

Gold recovers further from 1-month lows, moves back above $1715 level

Gold added to its intraday gains and refreshed daily tops, around the $1718 region during the early North American session.

Gold News

WTI: Recovery remains capped below $37 mark amid OPEC+ uncertainty

WTI (July futures on Nymex) is ranging in the familiar trading band near mid-36s so far this Thursday, having failed yet another upside attempts just shy of the 37 mark.

Oil News

Forex MAJORS

Cryptocurrencies

Signatures